VA IRRRL Washington State – How does it work?

A VA IRRRL (Interest Rate Reduction Refinance Loan) is a type of mortgage refinance loan available to eligible veterans and active-duty military personnel who have an existing VA loan. Here’s how it works: Eligibility: The borrower must already have a VA loan, and the loan being refinanced must be current (i.e., no late payments in […]

Applying for a VA home loan Washington State

Here are the steps on how to apply for a VA loan: Contact a VA-approved lender (Good news you have found a great local VA lender) Get a Certificate of Eligibility (COE). Apply for the loan. Close on the loan. Here are the details of each step: Contact a VA-approved lender. A VA-approved lender is […]

Can I have more than one VA loan at a time?

Can I have more than one VA loan at a time? Yes, it is possible to have more than one VA loan at the same time. However, there are certain restrictions and conditions that apply to multiple VA loans. In general, you can have more than one VA loan if you meet the eligibility requirements […]

What is Residual Income on VA Loans?

What is Residual Income on VA Loans? Residual income is the amount of money left over after you have paid all your bills, including your mortgage. For VA loans, residual income is an important factor in determining whether you qualify for a loan and how much you can borrow. The VA has established guidelines for […]

VA Loan Limits in Washington State By County

VA Loan Limits in Washington State By County Although VA does not set a loan limit on loan sizes, these County limits apply when you have current VA entitlement that is being used on a property you still own or have had a claim paid by VA in the past.  To obtain your VA Certificate […]